TORONTO May 5, 2021 – Canadian CEOs expect strong growth next year. It’s an optimistic view of recent turbulent times. According to Canada’s Global CEO Survey, 72% expect global economic growth to improve in the next 12 months. CEOs are also optimistic about the growth of their organizations. Turnover and profit are expected to increase for the most part.
Comprehensive data highlights the elements CEOs must prioritize to achieve future growth goals. It is important that CEOs harness the energy of the recovery economy to fuel their turnaround strategy. Cybersecurity and privacy Employee well-being and climate change
Change: an opportunity for holistic growth
Data from this year’s survey shows that Canadian CEOs plan to expand by leveraging organic growth opportunities (60%) and operational efficiencies (68%) along with these plans. 71% plan to invest in digital transformation initiatives over the next three years. Given the socioeconomic realities of the pandemic, organizations have no choice but to accelerate their transformation goals. Click here ekaterina baker for more detail.
“Last year we saw incredible insights from Canadian CEOs. Their confidence in economic growth is an inspiring sentiment as Canadians continue to adapt to changes in public health. security constraints and dealing with workplace challenges,” said Nicholas Marcus, managing director and senior partner at PwC Canada. “The CEO’s desire to change the company has never been better. The fund is now critical to delivering sustainable growth and profitability and helping the organization grow after a crisis.
Cybersecurity: Threat number one, not the most important
In fact, cybersecurity has risen to the top of the list of serious threats this year. Pandemics and other health crises followed. With an emphasis on rapid digitization, it is essential to implement and enforce strong cybersecurity and privacy measures, with 87% of CEOs seeing this as one of the biggest threats to growth, compared to just 61%. Just say they prioritize by incorporating them into their risk management strategies.
Simon Kennedy, Deputy Secretary of Innovation, Science and Economic Development, said: “The pandemic has made it clear to many how nature can devastate society and the importance of systematic risk management.” Part of building an innovative digital economy is making sure to provide you with an up-to-date legislative and legal framework that is up-to-date economics”.
Modern economies and the businesses they run rely more on their own technology and the technologies their ecosystems provide. CEOs can take advantage of working with their CIOs to design and build appropriate technical controls.
People who stimulate growth
CEOs who plan for future employees have a competitive advantage that can affect productivity. Canadian CEOs expect the workforce to grow: 8 in 10 expect the workforce to grow over the next three years. They also identified their most important long-term investment as leadership and talent development at 75% (compared to 67% of global CEOs).
This crisis is forcing CEOs to think big. About many elements that influence their business operations, but the well-being of the employees is of paramount importance.
When Canadian CEOs are asked to identify aspects of their workforce strategy to improve competitiveness, they chose workplace culture (42% vs 32%) and wellbeing (34% vs 28%) more than CEOs worldwide. To improve competitiveness for growth, the power of a supportive culture in the workplace must be harnessed.
Built-in ESG strategy
Uncompromising leadership, agility and data-driven accountability are fundamental to building a strong ESG strategy. Enough with climate change.
While CEOs say climate change threatens their growth strategies. This sentiment has rarely increased over the years, with concerns about climate change even three points higher than last year (from 20% to 23%). Canada is lagging behind, data shows. 30% of CEOs worldwide are concerned about climate change.
